APEC head calls for greater Atlantic co-operation on energy issues.

ST. JOHN’S – The president of the Atlantic Provinces Economic Council
(APEC) is calling for greater co-operation between the four Atlantic provinces
on energy projects.

“Can we set aside some of our differences that have inhibited co-operation
across Atlantic Canada in the past?” Elizabeth Beale asked a large gathering
of business people at the end of Tuesday’s APEC conference in St. John’s.

She noted one such disagreement was the proposed sale of NB Power to Hydro-
Quebec, which fell apart earlier this year.

The proposal not only bitterly divided the people of New Brunswick – and
likely cost Shawn Graham his job as premier – but it became a lightning rod for
Newfoundland and Labrador Premier Danny Williams’ anger against the Quebec
utility.

Beale suggested that the economy remains volatile, but may be stabilized by
joint investments and co-operation on energy concerns.

“The energy sector is indeed our biggest economic opportunity right across
Atlantic Canada, even at a time when a number of energy projects have been
scaled back or cancelled,” she said.

She used Newfoundland as an example of how investments in energy have
already turned what used to be one of Canada’s poorest provinces into a top-
performing economy.

Then Beale answered the question she posed earlier.

“I am starting to see some very encouraging signs of a more open approach
right across this region to joining with other provinces on common initiatives,
” she said.

Beale noted both a joint proposal from Nova Scotia and Newfoundland and
Labrador to build a subsea hydroelectric transmission cable to connect the two
provinces, and a focus on renewable power, which she said is pushing regional
integration of the power grid, especially in the Maritimes.

“The Maritimes have an enormous interest in gaining access to hydro power
as a long (term) strategy to reduce dependence on fossil fuels,” said Beale.

She urged all four premiers to co-operate in building a regional energy
agenda, and to help overcome the complexities of different regulations and
power rate structures within each province.

Beale said a political commitment is needed to keep talks on the rails.

A common energy future was the theme of this year’s conference, and co-
operation was talked about throughout the morning.

APEC policy analyst Fred Bergman, while discussing the proposed Lower
Churchill hydroelectric project in Labrador, talked about how co-operation on
such large-scale projects can reduce the economic risk.

“One way to reduce the risk, is to diversify your risk. Get other
governments to buy into the project,” he said.

For the outside investment, said Bergman, the other Atlantic provinces could
benefit either by sharing in the profits or getting commitments for reduced
power rates for the region.